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Leidi Network, Lei Jianping, April 7
Hefei Nexchip Semiconductor Technology Co., Ltd. (referred to as &#34;Nexchip&#34;) recently updated its prospectus and is preparing to list on the Hong Kong Stock Exchange.
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Nexchip went public on the STAR Market in May 2023, becoming the first pure wafer foundry enterprise in Anhui Province to successfully enter the capital market.
As of today's close, Nexchip's stock price is 28.31 yuan, with a market capitalization of 56.8 billion yuan. Once listed on the Hong Kong stock market, Nexchip will form an &#34;A+H&#34; structure.
Annual revenue of 10.4 billion, net profit down 3% year-on-year
Nexchip was established in May 2015, as a joint venture between Hefei Construction Investment Holding (Group) Co., Ltd. and Powerchip Innovation Investment Holding Co., Ltd.
Nexchip mainly engages in 12-inch wafer foundry services, focusing on the research and application of advanced processes in the industry, providing customers with wafer foundry services across different process platforms and various process nodes.
In terms of wafer foundry process nodes, Nexchip has achieved mass production on process platforms ranging from 150nm to 40nm, with 28nm OLED products continuously being validated, and the 28nm logic process platform has completed development.
In terms of process platform applications, the company currently possesses technical capabilities for wafer foundry across DDIC, CIS, PMIC, Logic, and MCU process platforms. The company's products are mainly used in consumer electronics, automotive electronics, industrial control, artificial intelligence, the Internet of Things, and storage fields.
The prospectus shows that Nexchip's revenues for 2023, 2024, and 2025 are projected to be 7.183 billion, 9.12 billion, and 10.388 billion yuan, respectively; gross profits are projected to be 1.461 billion, 2.3 billion, and 2.358 billion yuan, respectively; and gross profit margins are projected to be 20.3%, 25.2%, and 22.7%, respectively;
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Nexchip's profits for 2023, 2024, and 2025 are projected to be 119 million, 482 million, and 466 million yuan, respectively; profit margins for the year are projected to be 1.7%, 5.3%, and 4.5%, respectively.
Nexchip's profit for the year 2025 is expected to decrease by 3.3% year-on-year; the profit margin for the year is expected to decrease by 0.8 percentage points year-on-year
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As of December 31, 2025, Nexchip held cash and cash equivalents of 2.276 billion yuan.
Huaqin Technology invested 2.4 billion to become the fourth largest shareholder.
The executive directors of Nexchip are Cai Guozhi and Zhu Caiwei, the non-executive directors are Lu Qinhang, Ms. Chen Xiaobei, Guo Zhaozhi, and Qiu Wensheng, and the independent non-executive directors are Professor An Guangshi, Professor Lin Zhitong, and Chen Teng.
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As of December 31, 2025, Hefei Construction Investment Holding (Group) Co., Ltd. holds 23.34% equity, Hefei Chip Screen Industry Investment Fund (Limited Partnership) holds 16.37%, Lijing Innovation Investment Holding Co., Ltd. holds 13.07%, and Huaqin Technology Co., Ltd. holds 6%;
China Merchants Bank Co., Ltd. - ChinaAMC SSE STAR 50 Component ETF holds 1.95%, and Industrial and Commercial Bank of China Limited - E Fund SSE STAR 50 Component ETF holds 1.82%;
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As of December 31, 2025, the equity structure of Nexchip
Hong Kong Central Clearing Limited holds 1.25%, CITIC Securities Co., Ltd. - Harvest SSE STAR Chip ETF holds 1.13%, the Small and Medium Enterprises Development Fund (Shenzhen Nanshan Limited Partnership) holds 0.66%, and Yinhua Fund - China Life Insurance Co., Ltd. - Dividend Insurance - Yinhua Fund Guoshou Growth Stock Portfolio Single Asset Management Plan (available for sale) holds 0.65%.
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Hefei Chip Screen and Hefei Construction Investment are acting in concert.
As of June 30, 2025, Lijing Innovation Investment Holding Co., Ltd. holds 19.08%, and Midea Innovation Investment Co., Ltd. holds 2.44%;
China Merchants Bank Co., Ltd. - ChinaAMC SSE STAR 50 Component ETF holds 2.21%, Industrial and Commercial Bank of China Limited - E Fund SSE STAR 50 Component ETF holds 1.66%;
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As of June 30, 2025, the equity structure of Nexchip
Beijing Jichuang Beifang Technology Co., Ltd. holds 1.32%, Anhui Chuanggu Equity Investment Fund Management Co., Ltd. - Hefei Zhong'an Zhixin Equity Investment Partnership (Limited Partnership) holds 0.97%, CITIC Securities Co., Ltd. - Harvest SSE STAR Chip ETF holds 0.95%, and Hong Kong Securities Clearing Company Limited holds 0.91%.
Comparing the data, it can be found that Midea Innovation has exited the shareholder ranks, and Huaqin has become the fourth largest shareholder.
The reason is that on August 29, 2025, Nexchip announced that it signed a Share Transfer Agreement with Huaqin Technology on July 29, 2025, in which Lijing Venture Capital transferred its 120,368,109 shares (accounting for 6.00% of the company's total share capital) to Huaqin Technology at a price of 19.88 yuan per share.
Based on this calculation, Huaqin Technology invested a total of 2.386 billion yuan to acquire shares, becoming the third largest shareholder.
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Nexchip Semiconductor Manufacturing Co., Ltd. (referred to as "Nexchip") has updated its prospectus and is preparing to list on the Hong Kong Stock Exchange. The company reported a revenue of 10.4 billion in 2023, with a net profit decrease of 3% year-on-year. Nexchip was established in 2015 and primarily engages in 12-inch wafer foundry services, having achieved mass production on process platforms from 150nm to 40nm. Huaqin invested 2.4 billion to become its fourth largest shareholder. Revenue is expected to be 7.183 billion, 9.12 billion, and 10.388 billion from 2023 to 2025, with a gross margin ranging between 20.3% and 25.2%

雷帝触网

Huaqin

Nexchip

ChinaAMC Guozheng Semiconductor Chip ETF

China Southern CSI Semiconductor Industry Custom ETF

Guotai CES Semiconductor Chip Industry ETF

GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

GTJA Allianz SSE STAR Chip Design Thematic ETF

Nexchip rushes to the Hong Kong stock market: annual revenue of 10.4 billion, Huaqin spent 2.4 billion last year to buy old shares